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Rightmove launches 'bargain of the week' service

17 April 2009
Written by Rosalind Renshaw

Rightmove is launching a new free service next Tuesday which it says will help agents market their discounted properties.

A new weekly e-magazine called Property Deal Weekly will allow bargain hunters to see property price reductions easily and, says Rightmove, help agents to persuade sellers to accept meaningful price reductions.

A demo version of Property Deal Weekly was available yesterday online. It features page-turning technology like a real magazine, and lists properties in all price brackets, including those over £1m, that have had their prices cut. It gives both the original asking price and the new price, and also tells you who the agents are.

Rightmove’s commercial director Miles Shipside says that current employment worries, difficulty in accessing mortgage finance and a general lack of consumer confidence means buyers are in short supply. He says that with some sellers now accepting offers at 25% below peak prices and a dearth of competing mainstream buyers, it’s a market ripe for the cash-rich.

He added: “Agents are all too aware that cash-rich and mortgage-ready buyers, although out there, are in short supply – and in a position to drive a hard bargain.

“It’s also true that making vendors understand this and reduce their asking price to saleable levels is a frustrating daily challenge.

“Referring them to the deals available in Property Deal Weekly may help the penny drop quicker, especially if they see they can trade up to a bargain too. We anticipate switched-on agents will use the carrot of free adverts in Property Deal Weekly to help sellers reduce more often, with the promise of grabbing the attention of those elusive buyers.  These are the areas where Property Deal comes into its own.”

Property Deal Weekly will automatically include asking price reductions of 2% or more that have occurred over the previous week. It will be updated weekly, with 48 regional editions covering the UK.

The content – described by Shipside as “addictive” – will be delivered direct to a home mover’s inbox as well as being available on the Propertydeal.co.uk website.

Shipside said: “Extensive research with agents has convinced us that they will be excited by this timely initiative that meets the needs of today’s challenging market place.”

But Estate Agent Today has been told there could be concerns that agents may be worried that the service will reveal to their competitors that some properties were over-valued in the first place.

Comments

  • icon

    I subscribed to this. And all I got was an email telling me to go back to the site because a PDF was ready. A PDF! Are you kidding me. Why not send me an email based on my search criteria? I don't want to trawl through all of North London. IDIOTS I tell you. They certainly can't call themselves online marketers, that's for sure.

    • 07 May 2009 08:22 AM
  • icon

    Brian has given us a shoe! We must all follow his example!

    • 21 April 2009 16:56 PM
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    Great now they will prove what we have been saying about some Righmove agents over pricing, hurray. Look on the positive side, we did and ditched Rightmove 12 months ago, no loss of business but we get no end of enquiries form disgruntled Rightmove vendors. Pull the plug everyone, your wasting your money.

    • 20 April 2009 13:51 PM
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    It is not a free service - agents pay a hefty subscription fee monthly. its just a sweetner to try to keep its customers.....

    • 19 April 2009 18:05 PM
  • icon

    Brian is a junkie.

    • 18 April 2009 13:08 PM
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    It is not a free service - agents pay a hefty subscription fee monthly. The times are tough, but Rightmove has not reduced it's fees and therefore has not helped the agents during these trying times.

    • 18 April 2009 09:34 AM
  • icon

    Not too sure about the "free service". We are told there is no such thing as a free lunch!

    • 17 April 2009 22:10 PM
  • icon

    Not RM, the Peoples Front of Judaea

    • 17 April 2009 16:48 PM
  • icon

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    really really wanna zigazig ha.
    If you wanna be my lover, you gotta get with my friends,
    Make it last forever friendship never ends,
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    • 17 April 2009 12:41 PM
  • icon

    I reckon Brian either works for RM or a HIP provider....anger management may help!

    • 17 April 2009 12:34 PM
  • icon

    Our dear frined, Rightmove won't stop fiddling to justify there ever-spiralling fees. Just trim the operation down and keep our business guys!!!!

    • 17 April 2009 11:46 AM
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    That's why we all love Rightmove - like yourself Brian, instantly likeable.

    • 17 April 2009 11:44 AM
  • icon

    Well, someone's got issues.

    • 17 April 2009 11:04 AM
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    The market must be getting better, because any post about a successful business is normally pasted with stupid people making silly comments, only 1 about rightmove!! Are you all at the nursery still or waiting for mummy to turn on the PC.

    • 17 April 2009 10:55 AM
  • icon

    According to RM newspapers are 'dead' presumably that doesn't include fancy online newspapers though that will sent to the same people who already subscribe to RM! Hardly delivering new audience is it! How long before they charge for this added extra?

    • 17 April 2009 10:03 AM
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